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1. A firm in a competitive industry has a total cost function of T C(Q) = 0.2Q2 5Q 30 (a) What is its corresponding marginal

1. A firm in a competitive industry has a total cost function of T C(Q) = 0.2Q2 5Q 30 (a) What is its corresponding marginal cost curve? (b) If the firm faces a price of $6 per unit, what quantity should it sell? (c) What profit does the firm make at this price? (d) Should the firm shut down

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